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Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
REVENUE    
Interest revenue $ 3,934 $ 2,269
Gain on sale of leased equipment 4,437 9,201
Gain on sale of financial assets 378 0
Total revenue 157,732 119,083
EXPENSES    
Depreciation and amortization expense 25,024 22,486
Cost of spare parts and equipment sales 15,323 2,705
Cost of maintenance services 5,329 5,574
Write-down of equipment 2,109 261
General and administrative 47,720 29,581
Technical expense 6,230 8,255
Net finance costs:    
Interest expense 32,094 23,003
Total net finance costs 32,094 23,003
Total expenses 133,829 91,865
Income from operations 23,903 27,218
Income from joint ventures 1,351 2,674
Income before income taxes 25,254 29,892
Income tax expense 8,385 9,023
Net income 16,869 20,869
Preferred stock dividends 1,323 900
Accretion of preferred stock issuance costs 70 12
Net income attributable to common shareholders 15,476 19,957
Net income attributable to common shareholders $ 15,476 $ 19,957
Basic weighted average income per common share (in dollars per share) $ 2.34 $ 3.12
Diluted weighted average income per common share (in dollars per share) $ 2.21 $ 3.00
Basic weighted average common shares outstanding (in shares) 6,606 6,387
Diluted weighted average common shares outstanding (in shares) 7,000 6,659
Retained Earnings    
Net finance costs:    
Net income $ 16,869 $ 20,869
Lease rent revenue    
REVENUE    
Lease rent and maintenance reserve revenue 67,739 52,881
Maintenance reserve revenue    
REVENUE    
Lease rent and maintenance reserve revenue 54,859 43,870
Spare parts and equipment sales    
REVENUE    
Other sales and revenue 18,240 3,288
Maintenance services revenue    
REVENUE    
Other sales and revenue 5,586 5,227
Other revenue    
REVENUE    
Other sales and revenue $ 2,559 $ 2,347